Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
GMR Airports Ltd ( (IN:GMRAIRPORT) ) just unveiled an announcement.
GMR Airports Limited has received a Letter of Intent to Award from Delhi International Airport Limited, indicating that it has been selected to finance, design, develop, construct, operate, manage, and maintain the Cargo City at Indira Gandhi International Airport, New Delhi. The project, which spans 50.5 acres and includes a potential additional 10-acre parcel, is based on a revenue share payment model with a minimum monthly guarantee to DIAL, initially set to run until 2036 with a possible extension of 30 years. This development is a related party transaction conducted on an arm’s length basis, with necessary approvals obtained in accordance with SEBI regulations.
More about GMR Airports Ltd
GMR Airports Limited, formerly known as GMR Airports Infrastructure Limited, operates in the aviation industry, focusing on the development and management of airport infrastructure. The company is involved in financing, designing, developing, constructing, operating, managing, and maintaining airport facilities, with a significant market presence in India.
Average Trading Volume: 467,205
Technical Sentiment Signal: Strong Buy
Current Market Cap: 931.7B INR
See more insights into GMRAIRPORT stock on TipRanks’ Stock Analysis page.